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Gain insight in your credit report

By Faye Mergel
Published: Thursday, August 14th, 2014

If you have ever been in situation to apply for a loan, you probably know what a credit report and credit score are. Wouldn’t it be great to know how well you’re doing over a period of time shorter than a year? Sure it would, especially if you’re preparing to apply for a new loan. If you are in this sort of situation there is a new service that can help you.

When in need of credit report, people are accustomed to applying to government run AnnualCredit Report which will provide one for you. In general, rules say you cannot get more than only one such report per year free of charge. There are quite a few limitations to sorts of information you can get from your report this way, first off, your credit score is not included, next there is no option for credit monitoring and no tools to help you understand how your financial behavior will affect your overall “credit strength”. On top of all this, if you wish to get another report after six months’ time – just to see how well you’re doing, you would have to pay for it.

Credit karma is online service that can offer you more than one credit report for free. This may seem as a trivial thing since there are other websites offering same type of service. Well, with others you are asked for a credit card number during your registration, not that those others will charge you but if they offer service for free why do they need this particular type of information? As already mentioned, if using AnnualCredit Report services your credit score is not included, and one thing that will give you really useful insight in your credit capabilities is exactly this. Next thing that Credit karma can offer are tools to help you monitor your progress over a shorter period of time like six or four months. They can also provide advice about how to further improve your credit score and when exactly to apply for a loan.

One other real advantage of this website service is their willingness to give you credit reports on weekly basis. This way you can really check all the details concerning your previous credit history, and if any errors are found you can then apply for correcting those and keep a track on their progress. Those errors can off course lower your overall credit score and keep you from getting desired loan.

There are other functions of this great web service and if you’re thinking about loan, then this is definitely place to check out first.

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